ACCOUNTS - Final Accounts preparation

Cash and cash equivalents

Registered number: 10478267

BREACHAWARE LIMITED

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2025

BREACHAWARE LIMITED

REGISTERED NUMBER: 10478267

BALANCE SHEET

AS AT 30 JUNE 2025


	2025	2024
Note	£	£

Fixed assets
Intangible assets	4		36,088		47,714
Tangible assets	5		477		151
			36,565		47,865
Current assets
Debtors: amounts falling due within one year	6	2,143		2,250
Cash at bank and in hand	7	16,968		15,466
		19,111		17,716
Creditors: amounts falling due within one year	8	(12,900)		(14,795)
Net current assets			6,211		2,921
Total assets less current liabilities			42,776		50,786

Net assets			42,776		50,786

Capital and reserves
Called up share capital	100	100
Profit and loss account	42,676	50,686
	42,776	50,786

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BREACHAWARE LIMITED

REGISTERED NUMBER: 10478267

BALANCE SHEET (CONTINUED)

AS AT 30 JUNE 2025

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

Ketan Patel

Director

Date: 9 November 2025

The notes on pages 3 to 8 form part of these financial statements.

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BREACHAWARE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2025

1.	General information

Breachaware Limited is a private company, limited by shares, company registration number 10478267, incorporated in England and Wales. The registered office is 6th Floor, 2 London Wall, London Wall Place, London, EC2Y 5AU.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in pounds sterling, rounded to the nearest £1.

The following principal accounting policies have been applied:

2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

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BREACHAWARE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2025

2.Accounting policies (continued)

2.4

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

2.5

Interest income

Interest income is recognised in the Profit and loss account using the effective interest method.

2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

2.8

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years. Intangible assets are amortised over their estimated useful lives.

The estimated useful lives range as follows:

Development expenditure

years

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BREACHAWARE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2025

2.Accounting policies (continued)

2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

				Office equipment	-	25%
				Computer equipment	-	25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.13

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

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BREACHAWARE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2025

Employees

The average monthly number of employees, including directors, during the year was 2 (2024 - 2).

4.	Intangible assets

		Development expenditure
		£
	Cost
	At 1 July 2024	93,144
	Additions	10,652
	At 30 June 2025	103,796
	Amortisation
	At 1 July 2024	45,430
	Charge for the year	22,278
	At 30 June 2025	67,708
	Net book value
	At 30 June 2025	36,088
	At 30 June 2024	47,714

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BREACHAWARE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2025

5.	Tangible fixed assets

	Office equipment	Computer equipment	Total
	£	£	£
Cost or valuation
At 1 July 2024	108	1,599	1,707
Additions	-	509	509
At 30 June 2025	108	2,108	2,216
Depreciation
At 1 July 2024	97	1,459	1,556
Charge for the year	11	172	183
At 30 June 2025	108	1,631	1,739
Net book value
At 30 June 2025	-	477	477
At 30 June 2024	11	140	151

Debtors


					2025	2024
					£	£


Trade debtors	-	153
Other debtors	1,798	-
Prepayments and accrued income	345	2,097
	2,143	2,250

	Cash at bank and in hand	16,968	15,466

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BREACHAWARE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2025

Trade creditors	9,000	6,833
Corporation tax	-	2,781
Other taxation and social security	-	1,131
Other creditors	900	900
Accruals and deferred income	3,000	3,150
	12,900	14,795

Related party transactions

Following net loan movements during the year of £Nil (2024: £180), at the balance sheet date, £180 (2024: £180) was owed to Ketan Patel, a director and shareholder of the company.

Following net loan movements during the year of £Nil (2024: £720), at the balance sheet date, £720 (2024: £720) was owed to Andrew Alston, a director and shareholder of the company.
During the year, the company incurred consultancy costs of £38,183 from Business Intelligence Theorems Limited, a related party by virtue of Business Intelligence Theorems Limited's shareholding in the company and the fact that a director of the company is a director of Business Intelligence Theorems Limited. All transactions were conducted at arm’s length and on normal commercial terms. There were no outstanding balances due from or to Business Intelligence Theorems Limited at the year end (2024: £nil).

10.	Controlling party

During the year, the company was under the control of Ketan Patel, a director and shareholder of the company by virtue of majority share ownership.

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